Tower Semiconductor Solidified By $40 Million In Bonds

Israel's independent semiconductor foundry Tower Semiconductor Ltd. has accepted orders from Israeli institutions for approximately $40 million in long-term bonds with an average duration of 5.6 years. The company is currently in the final stages of its Fab2 manufacturing capacity ramp-up to 24,000 wafers per month. This fundraising will enable Tower to further expand its Fab2 capacity beyond such 24,000 level, primarily in advanced technologies (0.13 microns and below), in a cost effective manner that capitalizes on current unique tools acquisition opportunities.